LYELL WEALTH MANAGEMENT, LP

Lyell Wealth Management LP entered Q1 2026 with a $1.36B, 216-name portfolio whose most distinctive structural signature is an extreme concentration in AI-and-platform-computing names: Nvidia (NVDA, 7.4%, $100.6M) is the single largest position, Google Class C (GOOG, 5.4%) and Google Class A (GOOGL, 3.8%) together create a combined 9.2% Google allocation across two share classes, and Apple (AAPL, 3.4%) and Amazon (AMZN, 2.7%) complete a top-five tech quartet that collectively represents 27.1% of the entire book in just five names. The bifurcated Google position — reading both classes simultaneously to see the true Google exposure — is the most analytically interesting single design choice in this 13F; most managers select one class and move on. The Q1 changes (5 new, 5 sold, 25 increased, 18 decreased) represent active conviction management within a concentrated quality-and-growth framework: positions that had run were trimmed while new names with fresh catalysts were initiated, and 25 existing names were increased confirming the manager was doubling down on bets it already held. With whaleScore of 56.25 on a structure with zero ETF scaffolding and every position expressed through single-stock selection, this is a genuine concentrated growth allocator that warrants smart-money ranking.